LONDON, Nov. 20 /PRNewswire/ -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) today announces that it has served notice to terminate all agreements with Bioglan Pharma PLC (LSE: BGP) concerning the licence of the product Solaraze for marketing in Europe, USA, Canada and Mexico. Bioglan has been asked to provide redress for certain material breaches raised in the notice. The agreements provide for SkyePharma to receive payments from Bioglan totalling $10 million by the end of this year.

Solaraze has already been launched in Europe as a treatment for actinic keratosis, a growing pre-cancerous skin problem linked to prolonged sun exposure. The product has been well received by European clinicians and patients and has now also been approved for launch in the United States.

Michael Ashton, SkyePharma's Chief Executive Officer, commented: "We believe that the receipt of US and EU approvals, and the positive reception the product has received from the European market, have substantially enhanced the attractiveness of Solaraze to other companies. Should the agreements with Bioglan terminate, we will move rapidly to secure alternative marketing partners, and have already received approaches."

This press release may contain forward-looking statements regarding SkyePharma PLC. Actual results may differ materially from those described in the press release as a result of a number of factors. The Company undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release.

SkyePharma PLC
020 7491 1777
Michael Ashton, Chief Executive Officer
Valerie Tate, Head of Investor Relations
Email: vtate@skyepharma.co.uk

Lisa Carlton-Wilson
+1 (212) 753 5780
U.S. Investor Relations
Email: lwilson@insitecony.com

Financial Dynamics
020 7831 3113

David Yates/Jonathan Birt

Notes

SkyePharma PLC, one of the world's leading drug delivery companies, provides innovative services to major pharmaceutical partners from the point of drug discovery through the approval process. Its five technologies, oral, injectable, inhalation, topical, and nanoparticulate solubilisation encompass the vast majority of delivery systems in use by the pharmaceutical industry. For more information, visit SkyePharma's web site http://www.skyepharma.com.

Solaraze

Solaraze, currently approved for marketing in five member states of the EU (France, Germany, Italy, Sweden & UK), is a topical gel for the treatment of actinic keratosis, a pre-cancerous skin condition caused by over exposure to the sun. Solaraze utilizes SkyePharma's Hyaluronan Induced Targeting transdermal delivery technology. Age, sun exposure and fair skin are risk factors for the development of actinic keratosis which, if left untreated, may develop into squamous cell carcinoma. The market for actinic keratosis is estimated at $250 million in the U.S. alone. Approximately 1.3 million people are diagnosed with actinic keratosis annually in the U.S.

SOURCE SkyePharma PLC

CONTACT: Michael Ashton, Chief Executive Officer, or Valerie Tate, Head of Investor Relations, vtate@skyepharma.co.uk, both of SkyePharma PLC, +020 7491 1777; Lisa Carlton-Wilson, U.S. Investor Relations +1-212-753-5780, or lwilson@insitecony.com; David Yates or Jonathan Birt of Financial Dynamics, 020 7831 3113, all for SkyePharma PLC/